Loss of steering and power on corners

[audikamena]

I have 2001 4runner limited and love everything about it but....I have lost steering control and power when going around a few corners approx 6 times. It has happened on a dirt road, going down hill, with no guard rails, and no I was not going fast, AT ALL. It has also happened turning a tight corner on pavement. The first time it happened, it was on pavement and I had both kids in the car and there was a semi coming the other way, but that time I did have a flat tire when I got home. The same thing happens each time, the TRAC light goes on, it starts beeping, and hence I lose complete control of steering and power. It takes a few seconds to come back, but it can seem like lifetime with two kids and a semi coming your way.
Has this happened to anyone? Can I turn the TRAC system off for good? I have tried with the button, but it comes back on a while later.

Is there something else wrong?
Thank you